Re: We need a new word for \"gambling\"
The problem is not with the word "gambling" but people's understanding of the word.
"Gambling" is bad.
"Gambling" will always cost you money.
"Gambling" is never a smart thing to do.
I would say that most people in America believe those three things (or at least hte last two).
Gambling is simply putting money on an event or series of events where the outcome is not guaranteed. It should be an umbrella term to cover +EV and -EV.
All casino games (craps, roullette, slots) are gambling but really really bad -EV gambles. Whereas blackjack can be a +EV game (if played VERY well) and poker can be a +EV game if played just ok and a HUUUUUGGGE +EV game if played very well.
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